Oil and Gas Benchmark Benchmark

Emirates National Oil
Company (ENOC)
Emirates National Oil Company (ENOC) is a state-owned integrated oil and gas
company headquartered in United Arab Emirates. In 2020, it had a reported 9,000
employees*. The company did not report its revenue. ENOC has subsidiaries across
the upstream, midstream and downstream sectors. There is no indication it is
planning to reduce its fossil fuel reliance and transition to low-carbon activities.
Summary
Emirates National Oil Company (ENOC) ranks joint 77th with an ACT rating of
1.0E-. Although ENOC is making steps to improve its energy efficiency and has
committed itself to contribute to the United Arab Emirates (UAE) Energy Plan
2050, which aims to reduce the country’s emissions by 70%, the company does not
have any forward-looking emissions reduction targets.
Moreover, there is no indication that the company is planning to reduce its

dependency on oil and gas or that its scope 1 and 2 and scope 1, 2 and 3 emissions
intensities will align with its 1.5°C pathway. ENOC needs to develop low-carbon
business activities rapidly if it is to transition to the low-carbon economy at the
pace required by its 1.5°C pathway.
*Employee figure as reported in 2020. This figure may include full- and part-time
employees and workers, depending on the company’s reporting practice.
RANKING POSITION TOTAL SCORE
#77/100 2.4/100
PERFORMANCE SCORE NARRATIVE SCORE
1.0/20 ABCD E
TREND SCORE
Performance module name Targets
Performance module score 0.0 /100
Rank (0-100): #38
Performance module name Material Investment
Rank (0-100): #44
Performance module name Intangible Investment
Rank (0-100): #20

Performance module name Sold products
Rank (0-100): #55
Performance module name Management
Rank (0-100): #68
Performance module name Supplier Engagement
Rank (0-100): #57
Performance module name Client Engagement
Rank (0-100): #39
Performance module name Policy Engagement
Rank (0-100): #69
Performance module name Business Model
Rank (0-100): #37

Leading practices
No leading practices were identified for this company.
Risks and opportunities

Targets
ENOC has only disclosed one target: to reduce scope 1 and 2 emissions by just 1%
in 2019. Without forward-looking targets for reducing its scope 1 and 2 and its
scope 1, 2 and 3 emissions, the level of ENOC’s climate ambition could not be
assessed. To demonstrate commitment to the low-carbon transition, ENOC should
endeavour to set intermediate and long-term targets aligned with its 1.5°C
pathway.
Low-carbon and mitigation technology CapEx

In 2018, ENOC invested USD 1.6 million in energy and resource management.
However, the company does not disclose its total capital expenditure (CapEx),
meaning that the proportion of the company’s CapEx designated to low-carbon
technologies could not be assessed. The company can improve its disclosure by
reporting its forecasted future CapEx for low-carbon and mitigation technologies.
Further, the company should strive to direct 77% of its CapEx to low-carbon
technologies under the 1.5°C scenario.
Trend
ENOC receives a trend score of -. If the company were reassessed in the near
future, its score would likely decrease. ENOC only had one emissions reduction
target, which was to reduce its scope 1 and 2 emissions intensity by just 1% in 2019.
There is no evidence that the company has plans to significantly transition its
business model towards low-carbon activities.
Progress towards the Paris

Agreement
Commitment
ENOC has committed that it will contribute to the UAE Energy Plan 2050, which
aims to reduce the country’s emissions by 70%. However, it has set only one
concrete emissions reduction target so far, to have reduced scope 1 and 2
emissions intensity by 1% in 2019.
Transition plan
ENOC does not have a detailed long-term transition plan. It has an energy and
research management programme that focuses on improving energy efficiency in
the company’s operations.
Present
ENOC has started integrating solar energy into its operations and planned to install
44 electric vehicle chargers at its service stations in the UAE in 2020. It is also
setting up KPI targets for its upstream subsidiary Dragon Oil. However, there is no
evidence that the company plans to reduce dependency on oil and gas.
Legacy
In 2017, ENOC launched ‘Biodiesel 5’, a fuel containing 95% ordinary diesel and 5%
biodiesel made from used cooking oil. However, between 2014 and 2019, the
company’s total upstream production increased and there was no evidence that its
scope 1, 2 and 3 emissions intensity decreased.
Consistency
ENOC’s lack of a long-term transition plan suggests that the company will continue
to be dependent on fossil fuels in the future. There is no evidence that the
company has plans to deploy large-scale low-carbon business activities.
More about the company

Headquarters Group revenue
Dubai, United Arab Emirates Not available
Ownership structure Number of employees

State owned 9,000
Scope of activity Website

Fully integrated https://www.enoc.com/en/

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Emirates National Oil

Moreover, there is no indication that the company is planning to reduce its

RANKING POSITION TOTAL SCORE

Performance module name Targets

Performance module score 0.0 /100

Rank (0-100): #38

Performance module name Material Investment

Performance module score 8.0 /100

Rank (0-100): #44

Performance module name Intangible Investment

Performance module score 0.0 /100

Rank (0-100): #20

Performance module score 0.0 /100

Rank (0-100): #55

Performance module name Management

Performance module score 24.7 /100

Rank (0-100): #68

Performance module name Supplier Engagement

Performance module score 0.0 /100

Rank (0-100): #57

Performance module name Client Engagement

Performance module score 5.0 /100

Rank (0-100): #39

Performance module name Policy Engagement

Performance module score 10.0 /100

Rank (0-100): #69

Performance module name Business Model

Performance module score 5.0 /100

Rank (0-100): #37

Risks and opportunities

Low-carbon and mitigation technology CapEx

Progress towards the Paris

More about the company

Ownership structure Number of employees

Scope of activity Website

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